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20100228
20100228
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CSPAN 2
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CSPAN
Feb 28, 2010 6:00am EST
the nextçó two years we are tryg to be fairly strict on the time. chairman bernanke needs to be out by 2:00. the gentleman from illinois. >> con dprat layingses on your reelection. the fdic reported yesterday that bank lending in 2009 fell by 7.75%. $587 billion in the washington journal said it was epic, the decline. there's a chart behind. why is bank lending falling so dramatically. it's falling because we are forcing to receive reserves. upon the committee room tv now is a chart from the oversite value report. increasing 700% since the first quarter of 2007. you'll notice from the chart that if the trend continues, the rate of free loans will soon be off that chart. the dramatic increase to me is really approaching a tsunami approaching our local communities. it is estimated to pique with over 300 billion expected to mature each year. 3.5 trillion, more held by banks and thrift. much held by the community banks that have survived the first part of the mortgage. now being threatened by this one. fdic yesterday added 450 banks to the troubled bank lits doubling the number from the st
CSPAN
Feb 28, 2010 2:00am EST
chairman bernanke. Ñi i'm interested in the suggestion made recently about curtailing some of the investment banking risks they are taking. he brings up an important subject and touches on it. it's bigger than what he has addressed. when we repealed against ñrthis i also believe there's been a moral has order caused by a fra decision of a line of credit given to freddie mac. the concept still persists that it is too big to fail. nobody is going to walk away. there's this dpar untea that the government will be there to bail out anybody that looks like is going to shake it up. it doesn't matter the bad debt and burden on the american taxpayer. it is still there. creating a tremendous moral hazard. the real problem over the decades has been the perception put into the markets pretending there is a saveings ore actually capital out there. this is the moral hazard because they believe something that is not true. we see the disintegration of the system we have already created. we have already been in a final crisis. we are going to see this get worse and have to a dris the subject and
Search Results 0 to 1 of about 2